Alibaba Pictures Group Limited provided group earnings guidance for the year ended December 31, 2016. For the year, the company announced that reference is made to the interim results announcement of the company published on August 26, 2016 whereby it was announced that the group recorded net loss of approximately RMB 465.7 million for the six months ended June 30, 2016. Further to the 2016 interim results announcement, the board of directors of the company informed the shareholders of the Company and potential investors that, based on the preliminary assessment of the latest unaudited consolidated management accounts of the Group, it is expected that the Group will record net loss in the range of RMB 950 million to RMB 1 billion for the year ended December 31, 2016 as compared to a profit of approximately of RMB 466.0 million for the year ended December 31, 2015. The Group's overall bottom line result for 2016 was primarily impacted by the marketing expenses of Tao Piao Piao (the Group's online ticketing platform), which were incurred to increase its market share. Tao Piao Piao, a key operating asset in the Group's internet-based promotion and distribution segment, raised RMB 1.7 billion from a number of strategic investors in May 2016. It continued to utilize its financial resources to implement its marketing strategies in order to grow its business, and has further enhanced its user experience and strengthened its market position by the end of 2016.